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NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM $(0.51) per share, compared to second quarter period ended June 30, 2020, the company
2019 adjusted net income (non-GAAP) reported oil and gas revenues of $10,636,593.
Perpetual Energy of $83.0mn, or $0.82 per share1. Net cash For the six months ended June 30, 2020, the
provided by operating activities was $144.7mn company reported oil and gas revenues of
announces extension in the second quarter of 2020 compared to $50,206,921.
$414.0mn in the same period a year ago.
For the three months ended June 30, 2020,
of credit facility Adjusted cash flow from operations (non- Ring reported a net loss of $135,000,066 or
GAAP) was $144.5mn in the second quarter
$1.99 per diluted share. For the six months
redetermination of 2020 compared to $336.4mn in the second ended June 30, 2020, the company reported
a net loss of $91,195,948 or $1.34 per diluted
quarter a year ago1.
Perpetual Energy announced today the Oil production averaged 78,000 barrels share.
extension of the revolving credit period per day. Total company production volumes For the three months ended June 30, 2020,
applicable to the company’s existing for the quarter averaged 254,700 barrels of the net income included a pre-tax unrealised
CAD20mn credit facility to October 30, 2020. oil equivalent (boe) per day. Second quarter loss on derivatives of $26,771,529, a pre-tax
The credit facility continues to be available on production volumes were impacted by the ceiling test impairment of $147,937,943
a revolving basis until that date. The date for operational slow down announced in March and a non-cash charge for stock-based
the redetermination of the borrowing limit and a 20% temporary curtailment of May compensation of $1,317,542. Excluding
has also been extended until October 30, production related to the extreme fluctuation these items, the net income per diluted share
2020. The extension of the borrowing limit in oil prices caused by the COVID-19 would have been $0.02. For the six months
redetermination provides additional time pandemic and the actions of OPEC and other ended June 30, 2020, the net income included
to finalise negotiations with its lenders and countries during the quarter. a pre-tax unrealised gain on derivatives of
for the company to explore opportunities to Realised oil prices averaged $19.57 per $20,315,152, a pre-tax ceiling test impairment
enhance its liquidity. If the revolving period barrel, down 64% from the $54.24 per barrel of $147,937,943 and a non-cash charge for
applicable to the credit facility is not extended received in the second quarter of 2019. stock-based compensation of $1,991,337.
beyond October 30, 2020, the credit facility Realised natural gas prices averaged $0.91 Excluding these items, the net income per
will cease to revolve, and all outstanding per 1,000 cubic feet (mcf), up 82% from the diluted share would have been $0.14. The
balances will be repayable on November 30, second quarter 2019 average of $0.50 per mcf. Company believes results excluding these
2020. NGL prices averaged $7.52 per barrel, down items are more comparable to estimates
PERPETUAL ENERGY, August 10, 2020 43% from the $13.08 barrel received in the provided by security analysts and, therefore,
second quarter of 2019. are useful in evaluating operational trends of
Cimarex reports second- CIMAREX ENERGY, August 05, 2020 the company and its performance, compared
to other similarly situated oil and gas
quarter 2020 results Ring Energy announces producing companies.
For the three months ended June 30, 2020,
Cimarex Energy today reported a second second-quarter and six- oil sales volume was 429,751 barrels, and gas
quarter 2020 net loss of $925.1mn, or $9.28 sales volume was 417,491 mcf (1,000 cubic
per share, compared to net income of month 2020 financial and feet). On a barrel of oil equivalent (boe) basis
$109.3mn, or $1.07 per share, in the same for the three months ended June 30, 2020,
period a year ago. Second quarter results operational results production sales were 499,333 boe. For the six
were negatively impacted by non-cash months ended June 30, 2020, oil sales volume
charges related to the impairment of oil and Ring Energy announced today financial was 1,285,354 barrels, and gas sales volume
gas properties. Second quarter adjusted net results for the three months and six months was 1,183,042 mcf. On a boe basis for the six
income (non-GAAP) was $(52.4)mn, or ended June 30, 2020. For the three-month months ended June 30, 2020, production sales
were 1,482,528 boe.
RING ENERGY, August 10, 2020
HomeBound Resources

announces $4.4mn

investment in Texas’

Midland Basin, part of the
greater Permian Basin

HomeBound Resources announced today the
company has completed a $4.4mn acquisition
in Texas’ Midland Basin – part of the greater
Permian Basin. The acquisition spans Martin,
Reagan, Lea, Glasscock, and Midland
Counties, and includes 55 drilled wells and

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